Bharti Airtel - Makes A Stunning Move: ICICI Securities

ICICI Securities Report

Bharti Airtel Ltd. has embarked on a market-testing tariff hike in Haryana and Odisha circles – and the move has just added a huge upside risk to our estimates.

Company has withdrawn its offering of Rs 99 recharge coupon which used to be valid for 28 days (entry pack). Now the minimum recharge pack in the two circles is priced Rs 155 which offers unlimited voice, 1GB data and 300 SMSs.

This is indeed a bold move and the tariff hike quantum is beyond our best-case scenario.

It shows Airtel’s strong urge to drive average revenue per user to Rs 300 (from Rs190 in Q2 FY23) and that the move is not just another for the bucket-list.

This is also a message / offer to competition that – Airtel is ready to walk-the-talk on tariff hikes.

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